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DLF Ltd, India's largest real estate company by market capitalization, has re-entered the Mumbai residential market with a luxury housing project named Westpark in Andheri (West). Developed under the Slum Rehabilitation Authority (SRA) scheme in partnership with Trident Group, the project involves an investment of INR 900 crore. The total expected revenue from the project is pegged at INR 2,300 crore.
DLF Ltd has officially marked its return to the Mumbai residential market with the launch of a high-end housing project in Andheri (West), nearly a decade after it exited the city. The real estate major is investing close to INR 900 crore to develop the 5.18-acre project named Westpark. The project is being executed under the Slum Rehabilitation Authority (SRA) scheme and is part of a strategic partnership with NCR-based Trident Group. DLF holds a 51% stake in the special purpose vehicle (SPV) formed for the project, while Trident holds the remaining 49%. Advertisement
Aakash Ohri, Joint Managing Director of DLF Home Developers, shared that the company has witnessed strong initial interest and plans to sell approximately 200 units in the first phase. However, the entire inventory may be released in case demand remains high. DLF expects total sales realisation to reach around INR 2,300 crore.
The launch in Mumbai is significant as DLF had exited the city in 2012 after selling a 17-acre land parcel to Lodha Developers for INR 2,700 crore. Prior to that, it had attempted a joint venture with Akruti City, which never materialized into launched projects.
In the 2024-25 fiscal year, DLF reported record-breaking sales bookings of INR 21,223 crore up 44% from the previous year. Managing Director Ashok Tyagi has projected this year's sales bookings to remain in the INR 20,000-22,000 crore range. The company also saw its net profit surge to INR 4,366.82 crore, with total income climbing to INR 8,995.89 crore, both showing a strong year-on-year growth.
DLF has built over 185 real estate projects spanning more than 352 million square feet since its inception. The group's current development potential stands at 280 million square feet across both residential and commercial segments, including projects under construction and in the pipeline. Its annuity portfolio spans over 45 million square feet, underlining its strength in leasing alongside sales.
Source PTI
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